Oil prices rose $2 a barrel on Monday after Western forces launched a second wave of air strikes on Libya, while in other markets glimmers of hope about Japan's nuclear crisis shaped sentiment.
The yen extended losses, with speculators wary of more coordinated action by the Group of Seven countries after their first joint intervention in over a decade last week.
Brent crude for May was up $2.02 at $115.95 a barrel by 1115 GMT, while U.S. crude for April gained $1.91 to $102.98 after the U.N.-mandated attacks on Libya to protect civilians caught up in a one-month-old revolt against Muammar Gaddafi's forces.
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